Census shows mortgage belt and growth are key in WA

The 2016 census reveals that WA has highest proportion of households with mortgages in Australia which highlights the importance of housing markets and growth in WA.

The census showed that 39.7% of WA households have a mortgage compared to the national average of 34.5%

“This shows WA households are much more sensitive to factors that impact homebuying, including access to housing finance, the supply and diversity of new housing and the strength of local real estate markets,” Property Council WA Executive Director Lino Iacomella said.

“The census also shows that WA’s population grew by 10.5%, which is the second highest nationally and above the national average of 8.8%.

“The strong population growth since the last census contributed to the big increase in homebuying and stronger economic growth in WA. However, recently there is evidence that population growth in WA has slowed.

“The census shows why the WA Government should focus policies on maintaining strong population growth which will also contribute to a strong housing market.

“Continuing infrastructure investment like public transport and enabling more housing diversity for small and large households are crucial to keeping WA growing.

“The State Government must act quickly to ensure WA remains an attractive place to live and work by pushing ahead with vital policy reform that will create jobs and bring people to Western Australia.

“Strata Title reform will enable more development and job creation.

“Fast-tracking the introduction of Infrastructure WA to guide major projects must also be a priority to keep WA growing,” Mr Iacomella said.